Delegated Proof of Stake
Formal
Delegated Proof of Stake (DPoS) is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it. It is an implementation of technology-based democracy, using voting and election process to protect the blockchain from centralization and malicious usage.
Practical
Holders of the cryptocurrency of that particular Blockchain have the chance to vote for a delegate they trust with validating the transactions on that Blockchain. The voting process is continuous therefore delegates are incentivized to keep a high standard of their work at all times and not cheat.
